Press Release

Drake & Scull International appoints BHM Capital as Liquidity Provider in the Dubai Financial Market  


Dubai, United Arab Emirates, 6th May 2024: Drake & Scull International (PJSC) announced the appointment of BHM Capital Financial Services, PJSC, one of the leading capital markets companies in the United Arab Emirates, as a liquidity provider for its shares, which will begin trading on the Dubai Financial Market on May 21, 2024.

Eng. Shafiq Abdelhamid, Chairman of the Board of Drake & Scull International PJSC, said: “We are pleased to cooperate with BHM Capital through its position as a liquidity provider for Drake & Scull shares, aiming to provide all solutions and facilities to the company’s shareholders to ensure the success of the restructuring plan and a strong return for the company’s shares”.

Eng. Shafiq indicated that BHM Capital will be committed to providing continuous requests and offers for the stock to the company’s shareholders, which will contribute to raising the level of liquidity for the company’s shares scheduled to be traded on May 21 on the Dubai Financial Market.

It is worth to mention that Drake & Scull International PJSC recently commenced the process of its capital increase which will end on May 10, 2024, considered one of the final steps to complete the restructuring process. The capital increase is set at 600 million United Arab Dirhams distributed over 2.4 billion shares and will support the company’s future growth and liquidity to needs. The company’s shareholders will also benefit from subscribing to the new shares at a discounted price of 25 fils per share.

The subscription process will take place through the main offices of Emirates NBD across the UAE, in addition to the branches of Commercial Bank of Dubai in Abu Dhabi, Dubai and Sharjah. Emirates NBD has also allocated a special number to respond to all shareholders’ inquiries (800 3623 476). To participate in the capital increase, shareholders must ensure that their names appear in the company’s share register maintained with the Dubai Financial Market (“DFM”) by the end of DFM working hours on the entitlement date of 24 April 2024. In addition, they must possess an Investor Number (“NIN”) registered with DFM to be eligible to subscribe to the new shares.


About Drake & Scull International PJSC (DSI) :

Drake & Scull International PJSC (DSI) is a global industry leader delivering state-of-the-art projects and solutions across its high-performance sectors including electromechanical, integrated design, engineering, and construction, for water, power and oil and gas sectors.

Through our operations, we provide integrated design, smooth functionality, and efficiency from start to finish. From Infrastructure Development, Waste to Energy, Data Centres Development, Mechanical Electrical and Plumbing (MEP) to Renewable Energy.

Drake & Scull continues to be at the helm, driving the market forward through our people, passion, and innovation for more than 135 years.

For media inquiries, please contact:

Linda AbdulHay

PR and Investors Relation Consultant

Drake & Scull International

+97150 1051886